6/6/1984 - Laserfiche WebLink

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JUN 6198* BOOK 57 fAGE376 split between residents of the City of Vero Beach and the County. Commissioner Wodtke then went to a blackboard to demonstrate how they finally arrived at the recommended 60/40 split. He explained that the project cost includes a project in Vero Beach as well as one at Sebastian Inlet. The new updated cost is 3.6 million. Of that the federal government would pay 1.78 million, or about 490; the non-federal share is 1.82 million, and of that the State of Florida will provide approximately 1.625 million. This leaves about $555,000 as the local share. We have always known there would be certain local expenses, i.e., permitting, right-of-way, the Property Appraiser and Tax Assessor's fees for collecting, etc., which have been projected in the area of $100,000. They, therefore used $650,000 as the project's local share cost. OMB Director Barton confirmed that $650,000 was the gross number, including all the various expense items for trying to collect, etc. and he hoped it would work down to $555,000 net. He continued that the committee tried many different scenarios for raising these funds, and ended up between 70/30 and 60/40 as the range which showed the most equity for everyone. Most of the formulas as to how they arrived at that plotting range are very difficult to explain, but they finally came up with 60% for the county and 40% for the city, or $390,000 for the County and $260,000 for the City. Mr. Barton noted that we have the option, if the county chose, to assess a millage countywide for any portion. The City of Vero Beach would be given a credit for that portion paid for by their taxable value in the City, and then they would make up the difference by whatever vehicle they wished. Mr. Barton reported the county's 60% converted to a millage rate to be assessed 81